To The Moon

On Fri, 22 Nov 2024, US market finished higher to wrap up a winning week for the major indexes. (see below) By the time the clock chimed 4pm: (see above) DJIA: +0.97% (+426.16 to 44,296.51). Record high closing. S&P 500: +0.35% (+20.63 to 5,969.34). Nasdaq: +0.16% (+31.23 to 19,003.65). For the week: DJIA has gained +1.99%. Best performer of the week. S&P 500 has gained +1.62%. Nadaq has gained +1.53%. Bright Sparks of the Week ? This week, the sector/s where US stocks was the biggest beneficiary can be found below: Investors gravitated towards $Materials Select Sector SPDR Fund(XLB)$ and $Utilities Select Sector SPDR Fund (XLU)$, where both closed +3.0%, higher than the others. (see above) Actually, $Energy Select Sector SPDR Fund (XLE)$ and $Real Estate Select Sector SPDR(XLRE)$ are a very closed 2nd. Stocks Revisit. For the past 2 weeks, I have mentioned a few US stocks in my picked posts. It is timely and appropriate to revisit and do a stock take. (1) $SUPER MICRO COMPUTER INC(SMCI)$ Wall Street heard what they wanted to hear; that was SMCI’s application to request for additional time to fulfill their financial reporting obligations. In addition, they managed to engage a mid-tier local audit firm BDO US (rumoured of ill repute) as their incoming auditor. And just like that, punters decided to throw SMCI a lifeline, buying heavily into the stock. Its trading volume is at an all-time high of approx. 83 million transactions daily. Just this week, it has gained +65.42% or $13.11, ending the week at $33.15, thanks in parts to Nvidia’s shout out during its earnings conference. (2) $Destiny Tech100 Inc(DXYZ)$. This fund had rallied during US election week, peaking at $42.43 on 11 Nov 2024. When post-election rally fizzled, so did DXYZ begin it’s descend. On 14 Nov 2024, it troughed at $28.68. On 16 Nov 2024, Reuters reported that SpaceX would launch a tender offer in December 2024. (see above) The good news helped DXYZ reach a new high (again) of $45.36 on 19 Nov 2024. However, the euphoria petered out quickly and stock price slipped. SpaceX followed up with a timely media blitz, with incoming president in toll. (see above) On Tue, 19 Nov 2024 evening, it launched the world's most powerful rocket on its 6th test flight, Although it did not achieve its full objectives, lessons learnt will be invaluable for its next rocket trial. I will hold onto my token DXYZ shares and wait for SpaceX tender offer price in December 2024. US market should be playing catch up, if Reuters reported $135 per share turns out to be true. (3) $NVIDIA Corp(NVDA)$. Nvidia was the big ‘surprise’ for me this week. It's quarterly earnings report on 20 Nov 2024 was highly anticipated. Without fail, Nvidia has handed out another stellar set of earnings for third quarter. On Thu, 21 Nov 2024, traders bought Nvidia. A day later, analysts deemed its Q4 forecast as only modestly better than Wall Street’s consensus. Just like that, Nvidia fell by -3.2%, closing the week at $141.95. Nevertheless, it has gained a modest +1.86% for the week. Thanksgiving Rally ? While reviewing SMCI, DXYZ and NVDA, it made me wonder if US market’s performance could be consider a “Thanksgiving” rally. (see above) After all, next Thu, 28 Nov 2024 is Thanksgiving celebration in the US. What I Have Done: Back traced the S&P 500 index last 5 years’ performance. Focus on the 3-month period of November to January. What I Found: 30 Oct 2023 to 29 Jan 2024 - uptrend. 31 Oct 2022 to 30 Jan 2023 - uptrend. 01 Nov 2021 to 31 Jan 2022 - downtrend. 02 Nov 2020 to 01 Feb 2021 - uptrend Now, is it ‘safe’ to assume that 01 Nov 2024 to 31 Jan 2025 will be in an uptrend momentum ? (see below) Above is the S&P 500 index’s 3 months performance from 01 Sep 2024 till present. Suffice to say that it has been maintaining an upwards trend, with pullbacks along the way. The S&P 500 saw a strong performance in November 2024 : Driven by positive earnings reports from a majority of S&P 500 companies exceeding expectations and boosting investor confidence. Strong earnings reports from key sectors companies like Nvidia (Technology) and $Wal-Mart(WMT)$ (Retail) helped keep the upward trend going. Although concerns remain about potential economic headwinds, overall market sentiment remains positive. Despite some mid-month volatility, the overall market sentiment remained positive, buoyed by optimism around the holiday season and expectations of continued economic growth. Overall, the S&P 500's performance in November 2024 (so far) exhibits resilience of the US stock market amid a backdrop of both opportunities and challenges. While remaining cautiously optimistic, have to remain in the market with eye wide opened and with a Plan B on hand, ready to be execute in a jiffy. Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks. BRK.B Safe Bet in Sticky Inflation Economy ? AVGO: Timing Sale of a Top Growth stock. NVDA : Driving SMCI and US Market Rally ? Do you think US market will continue to rally into January 2025 this year ? Do you think the S&P 500 index will reach the 6,100 level by end 2024 (+2.0% above current level) as predicted by Yardeni Research president Ed Yardeni ? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents